THE Selangor government is aiming to pay off its federal debt totaling RM19.2 million – which comprises loans for a water supply project and the Amanah Saham Selangor scheme – next year, Menteri Besar Amirudin Shari said today.

He added this was possible as the state enjoyed sound financial freedom.

“This proves we are the best when it comes to governance. We excel at managing our finances without compromising our services aimed at elevating the living standards of the people,” he said when tabling the 2024 state budget.

Amirudin said that settling Selangor’s debts was a vital step towards financial stability and sustainability.

Earlier, he tabled a RM2.53 billion budget, of which RM1.33 billion, or 52.6%, was allocated for administrative expenses while RM1.2 billion, or 47.4% for development.

The state was also aiming for a RM2.2 billion revenue in 2024.

“One of the main contributors to the state revenue in 2024 is land premium, amounting to RM890.94 million. This is equivalent to 40.5% of the total estimated revenue,” Amirudin said.

He also announced that RM68 million will be allocated to the state’s Irrigation and Drainage Department.

“The state government will also allocate RM65 million for various development projects including flood mitigation, drainage system development, river basin development, water and hydrology development, environmentally friendly drainage management, and coastal development – comprising 103 programmes,” said Amirudin.

He further said Selangor will work closely with Putrajaya to expedite the implementation of flood mitigation projects in the state, including the Langat River Phase 2 flood mitigation project, which is estimated to cost RM3 billion. – November 10, 2023.